The year 2009 is now gone and its time to look back at the research on financial networks and related topics from that year. Here are some that I found. Please help me add to the list.
Liasons Dangereuses: Incresing connectivity, risk sharing and systemic risk (by Stefano Battiston, Domenico Delli Gatti, Mauro Gallegati, Bruce C. Greenwald and Joseph E. Stiglitz). [link]
Rethinking the Financial Network (A speech by Andrew Haldane at the Financial Student Association, Amsterdam April 2009). [link]
On the Informational Properties of Trading Networks (by Lada Adamic, Celso Brunetti, Jeffrey H. Harris, and Andrei A. Kirilenko). [link]
The Financial Crisis and the Systemic Failure of Academic Economics (by David Colander, Hans Föllmer, Armin Haas, Michael D. Goldberg, Katarina Juselius, Alan Kirman, Thomas Lux, and Birgitte Sloth). Univ. of Copenhagen Dept. of Economics Discussion Paper No. 09-03. [link]
Identifying Community Structures from Network Data via Maximum Likelihood Methods (by Jernej Copi, Matthew O. Jackson, and Alan Kirman), The B.E. Journal of Theoretical Economics: Vol. 9 : Iss. 1 (Contributions), Article 30. [link]
Pedro Romero has three papers on banking networks: “The Evolution of Economic Networks” [link], “Banking Crises and Institutional Arrangements”. [link], and “Bank Runs, Banking Contracts, and Social Networks” [link]
A Comparison of the Director Networks of the Main Listed Companies in France, Germany, Italy, the United Kingdom, and the United States (by Paolo Santella, Carlo Drago, Andrea Polo, and Enrico Gagliardi). [link]
Structure and Stability in Payment Networks – A Panel Data Analysis of ARTIS Simulations (by Stefan Schmitz and Claus Puhr). [link]
Visualizing Stock-Mutual Fund Relationships through Social Network Analysis (by Rafael Solis), Global Journal of Finance and Banking Issues Vol. 3. No. 3. 2009. [link]
The sterling unsecured loan market during 2006-2008: insights from network topology (Anne Wetherilt, Peter Zimmerman and Kimmo Soramaki); in Leinonen (ed) Simulation analyses and stress testing of payment networks, Bank of Finland Scientific monographs E:42. [link]
3 Comments
Have you considered putting those in other format? BibTeX, .zip of PDFs, Collection in Mendeley, etc. That would be convenient — and I could arrange, if I have time on Wednesday.
Good idea! I just added the 2009 ones to the whole list. All help very much appreciated.
I recently came across a very nice overview of small-world research, mainly
from a social networks angle by Schnettler (2009). It touched on a few things that I noticed in working on payment topologies but hadn’t quite sorted out.
Most notably the vacuousness of just applying network measures to banking
relations. For example, Schettler quotes Milgram who’s arguing that the small number of steps between any random human being and someone of importance (Obama, Mandela, etc.) does not mean that they are close. These ’steps’ might be very high hurdles to take. An analogue in TARGET would be that in principle we could have a complete network. In practice we don’t see this. Probably because the cost of setting up a link are prohibitive. Also, we should not be interested in scale-freeness and power laws per se but much more in the dynamics that lead to the network formation we see.
In any event, quite an interesting paper.
References
Schnettler, S. (2009). A structured overview of 50 years of small-world research. Social Networks 31, 165–178.